Chartwell is excited to announce the launch of our Interim Leadership practice, where we bring the talent companies need to execute financial initiatives that support sustainable growth and value creation.
Chartwell is pleased to announce New Wave Entertainment has successfully completed a refinancing of its existing senior debt credit facility. The new facility, led by Star Mountain Capital and EastWest Bank, provides New Wave (the “Company”) with significant capacity and operating flexibility as it evolves in conjunction with the entertainment industry’s shift towards digital consumption.
In addition, Star Mountain and a consortium of private investors have committed incremental capital to support New Wave Entertainment’s growth initiatives. Funds will be utilized for the following purposes:
Produce new comedy and pop culture content stewarded by New Wave Entertainment’s sister firm, The Nacelle Company, LLC (“Nacelle”). Nacelle currently maintains the largest independent comedy content library in the industry and a growing library of documentary series, producing for A-list names such as Zac Efron, Kevin Hart, Jim Gaffigan, and more. Alongside comedy and documentary content, Nacelle will continue to curate and license specials, shows, IP, books, and toys as a clearing house for all things pop-culture
Support the Company’s buildout of industry-leading software, hardware, cybersecurity systems, and engineering talent required to provide finishing and editing services for the world’s premier theatrical and streaming content producers. The Company’s state-of-the-art facilities have serviced blockbuster productions for over 25 years and are constantly evolving to meet new industry standards
Concurrent with the refinancing, New Wave Entertainment and Nacelle have effectuated a restructuring of their respective ownership structures, ensuring long-term alignment of the two businesses.
Chartwell acted as the exclusive financial advisor to New Wave Entertainment, providing counsel to the senior management team on all facets of the transaction.
About New Wave Entertainment
New Wave Entertainment is a leading independent creative entertainment marketer, digital editor, and comedy content curator in the entertainment industry. The Company provides finishing services, trailers, TV spots, digital distribution, and more to a diverse end market of clients including major studios and streaming platforms. New Wave Entertainment is a 100% ESOP-owned business and prides itself on generating value for its employee ownership base.
Chartwell Contact
For additional information on this transaction, please contact Will Bloom or Dan Kaczmarek. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce that Chemonics International, Inc. has successfully completed a refinancing of its existing senior debt credit facility. The new facility provides Chemonics (the “Company”) with significant financial flexibility and capacity to support its new business initiatives and long-term strategic plans. Chartwell acted as the exclusive financial advisor to Chemonics, providing counsel to the senior management team on all facets of the transaction.
In the refinancing, Truist and Citibank are the senior lenders to Chemonics and provide the capital to support the Company’s growth initiatives through a cash-flow based revolving credit facility that maximizes operating flexibility. Additionally, Chemonics has access to incremental capital through an accordion feature that allows the Company to upsize the revolving credit facility to further finance organic and inorganic opportunities in support of its strategic objectives.
About Chemonics
Chemonics is a leading international development consulting firm applying a suite of consulting services to foreign aid operations in over 80 countries across the globe. The Company provides an extensive array of services in areas such as health, government, agriculture, education, supply chain administration, aid distribution, humanitarian assistance, and more. With a long-term track record of successful project implementation, Chemonics has earned a reputation as the go-to executor of development assistance goals for a host of governments, NGOs, and charities worldwide. Chemonics is a 100% ESOP-owned business and prides itself on generating value for its employee ownership base.
Chartwell Contact
For additional information on this transaction, please contact Ryan Rassin. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce the sale of Binkley & Barfield, Inc. to DCCM. Chartwell acted as exclusive financial advisor to Binkley & Barfield (“BBI” or the “Company”) throughout the transaction, providing comprehensive, unbiased counsel on the sale of the Company.
BBI’s leadership believes its corporate vision of creating a better future for its clients and communities will be more easily achieved in partnership with DCCM to become a more innovative, diverse, sustainable, customer-focused firm. Further, BBI recognizes the strong alignment between the cultures and values of both firms. The combination will showcase BBI’s local Texas presence while increasing its depth of service, resources, and talents.
BBI engaged Chartwell to lead and execute throughout the transaction process. With expertise in M&A, the architectural and engineering industry, and ESOP structures, Chartwell provided objective counsel and facilitated negotiations on behalf of all the shareholders–each with different goals and objectives–to ensure a successful outcome for all parties.
“Selling a family business is not something that I took lightly. Chartwell’s experienced team of advisors took the time to learn and understand the needs of our leadership team which resulted in a well-executed transaction. The team kept the process focused and organized resulting in a win/win outcome with DCCM. Being an ESOP company adds complexity that requires specialized knowledge, which Chartwell helped us navigate. I highly recommend the Chartwell team.”
— Brett Binkley, CEO, Binkley & Barfield
About Binkley & Barfield
Binkley & Barfield is a multidisciplinary engineering consulting firm with headquarters in Houston, Texas and fully staffed regional offices in College Station, Corpus Christi, Richardson, Round Rock, and San Antonio. Incorporated in 1971, the firm has served their clientele for over 50 years.
Binkley & Barfield provides a comprehensive range of engineering services including utility engineering and coordination, subsurface utility engineering, power, telecommunications, pipeline, construction management, transportation, structural, traffic, infrastructure (including roadway, drainage, water, and wastewater), land development, and GIS.
About DCCM
DCCM is a provider of design, consulting, and program & construction management professional services focusing on infrastructure marketplaces throughout the public and private sectors. Through a family of complementary brand companies, DCCM serves a variety of end markets while offering a national reach.
DCCM is aggressively hiring key industry professionals in all disciplines and is actively seeking further acquisition opportunities throughout North America.
Chartwell Contact
For additional information on this transaction, please contact Wil Becker or Joe Skorczewski. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce a majority equity sale of S. J. Electro Systems (SJE) to Audax Private Equity. The investment from Audax comes as SJE aims for continued growth and expansion within the controls industry. Chartwell served as the exclusive financial advisor to SJE, providing the board of directors and management M&A advice throughout the transaction process.
About SJE
Founded in 1975, SJE is a leading controls technology company throughout the U.S. and Canada, as well as into global markets. SJE is comprised of well-respected brands — CSI Controls, PRIMEX, SJE Rhombus — all known for their innovation and quality. With locations throughout the U.S. and Asia and expertise in the reliable integration of engineering and manufacturing capabilities from control panels utilizing embedded circuit board technology to complete control and monitoring systems designed and built to individual specifications, SJE offers a wide variety of control products for residential, commercial, municipal, and industrial markets.
SJE will look to benefit from the strategic and financial resources Audax brings to its portfolio companies. These resources will help drive investments in the business, support growth strategy, and enable SJE to continue pursuing acquisitions.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 950 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies.
Chartwell Contact
For additional information on this transaction, please contact Dan Kaczmarek. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce the sale of Simeone Deary Design Group to KTGY Architecture + Planning. Chartwell acted as exclusive financial advisor to Simeone Deary (“SDDG” or the “Company”) throughout the transaction, providing comprehensive, unbiased counsel on the sale of the Company.
SDDG’s leadership believes there is a strong alignment between the cultures and values of both firms. The combination of its interior design and branding expertise with KTGY’s architecture platform will provide new opportunities for collaboration and drive innovative ideas for clients. In addition, the Company’s hospitality focus will help to inform designs in the residential environment where KTGY has already established itself as a visionary in the industry.
SDDG engaged Chartwell to lead and execute the full transaction process. With Chartwell’s in-depth expertise in architecture, engineering, and design, Chartwell provided objective counsel and facilitated negotiations on behalf of the Company to ensure a successful outcome.
“Chartwell was key in guiding us though the acquisition process. They performed significant due diligence, provided clear, precise advice, and recommended great partner consultants when needed. The Chartwell team remained calm and patient throughout the process and were able to help us negotiate the deal we wanted. Their design industry expertise was invaluable to us during this journey. Most importantly, Chartwell’s team was always available to us, even in the midst of a global pandemic!”
— Lisa Simeone & Gina Deary, Co-Founders, Simeone Deary Design Group
About Simeone Deary Design Group
Simeone Deary Design Group, established in 2002 by Lisa Simeone and Gina Deary, is an award-winning interior design firm with a passion for creating boundary-pushing designs that evoke emotion, forge connections and are as experiential as they are functional. Chicago-based but globally focused, SDDG combines worldwide perspectives with its Midwestern values to bring to life spaces and experiences brimming with both possibility and purpose. From conceptual design and interior architecture to graphics and branding, Simeone Deary Design Group approaches each project through a lens of possibility and purpose, creating transformative and highly personalized journeys that shape the guest experience.
About KTGY Architecture + Planning
Celebrating 30 years of design excellence, KTGY Architecture + Planning is a leading architecture and design firm focused on residential, retail, and mixed-use developments and neighborhood revitalization. KTGY seamlessly delivers innovation, artistry, and attention to detail across multiple design studios, ensuring that clients and communities get the best the firm has to offer no matter the building type or location. KTGY’s architects and planners combine big picture opportunities, leading-edge sustainable practices, and impeccable design standards to create memorable destinations of enduring value. KTGY serves clients worldwide from offices located in Chicago, Denver, Irvine, Los Angeles, Oakland, and Tysons.
Chartwell Contact
For additional information on this transaction, please contact Chris Staloch or Olivia Kowalski. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce that Challenge Manufacturing has successfully completed the refinancing of its senior debt. The newly-funded indebtedness provides Challenge (the “Company”) with financial flexibility and liquidity to support continued growth from significant recent new business awards. The financing package includes an expanded revolving credit facility and refinancing of its senior secured term loan. Chartwell acted as the exclusive financial advisor to Challenge throughout the transaction, providing counsel to the board of directors and senior management team.
Incumbent lenders Wells Fargo and Bank of America remain as working capital lenders to the Company, while WhiteHawk Capital Partners has entered the relationship as a term loan lender. Each capital provider expressed their eagerness and excitement to take part in the next chapter of the Company’s story. Challenge is an employee-owned Tier One automotive manufacturer of advanced modular assemblies and engineered metal- formed products, providing comprehensive solutions for OEMs.
“Challenge is extremely pleased with Chartwell facilitating the refinancing of our existing indebtedness and additional lending capacity which will allow more flexibility and capital to support our long-term strategic and financial plan. Throughout each step of the process, Chartwell provided valuable, comprehensive analyses and advice on a myriad of topics and considerations that allowed our management team and Board of Directors to make highly informed decisions. We truly appreciate the work Chartwell put forth and look forward to working with Chartwell on our future capital needs.”
— Doug Bradley, CEO, Challenge Manufacturing
“Chartwell continues to remain a trusted financial advisor to our Company as demonstrated through their commitment to our business and understanding of our financial needs. Chartwell was able to implement an optimal debt structure that will positively impact our employee shareholders’ equity value. Our partnership with Chartwell has been instrumental to Challenge’s success and we look forward to our continued partnership.”
— Mike Rodgers, CFO, Challenge Manufacturing
About Challenge Manufacturing
Founded in 1981, Challenge Manufactruing has remained dedicated to supporting OEMs as a critical manufacturer of advanced modular assemblies and engineered metal-formed products. The Company is the largest employee-owned automotive supplier in the United States and remains dedicated to the wellbeing of its employee-owners.
Chartwell Contact
For additional information on this transaction, please contact Will Bloom. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce that Oxbow Industries and Arcspring Capital have acquired Vectair Systems. Chartwell acted as the exclusive financial advisor to Oxbow and Arcspring throughout the transaction, providing counsel and facilitating negotiations to ensure the acquisition financing was in place. Supporting the transaction and providing bank and non-bank capital were HSBC Bank and Northstar Capital.
Vectair Systems is a world-renowned innovator, manufacturer, and supplier of aircare, washroom, skincare, surface cleaning, feminine hygiene, and infant care products. Vectair has its own in-house engineering and design team, developing both private label and customer OEM products from initial concept to final tooling approval. Vectair Systems was founded in 1988 and services over 130 countries across the globe.
Oxbow Industries is a private equity firm that specializes in investing in high-quality businesses within the middle market. Oxbow assists portfolio companies in numerous ways, including raising capital for corporate growth and providing liquidity for owners. Based in Minneapolis, Minnesota, Oxbow has successfully invested over $2.5 billion in corporate finance transactions.
Arcspring Capital is a private equity firm based in Atlanta, Georgia that utilizes a micro-vertical approach in areas that are undergoing a fundamental shift driven by technology. Arcspring partners with companies in the industrial, services, transportation and logistics, sport, and health and wellness sectors. Arcspring supports management buyouts and provides growth capital in the range of $5.0 million to $50.0 million.
“Chartwell is a trusted advisor to Oxbow and has acted as the primary agent in a number of transactions over the years. We were again pleased with Chartwell for providing critical assistance during the capital raise process. Thanks to Chartwell’s hard work, we have achieved an optimal outcome and can now focus on developing our partnership with Vectair.”
— Andy Coulter, Partner, Oxbow Industries
“Chartwell’s guidance was instrumental in securing a new facility for the transaction. Chartwell ran an efficient process to secure financing for a time-sensitive acquisition that generated value for all parties involved. We are grateful for Chartwell’s advice throughout the process and look forward to working with them again in the future.”
— Jordan Lamb, Partner, Arcspring Capital
Chartwell Contact
For additional information on this transaction, please contact Will Bloom. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce the sale of Wenck to Stantec. Chartwell acted as exclusive financial advisor to Wenck (the “Company”) throughout the transaction, providing comprehensive, unbiased counsel on its sale of the Company.
Wenck and Stantec had a working relationship and were actively collaborating on projects and teaming on future opportunities. Wenck’s leadership believes combining with Stantec will provide both the economic and strategic resources necessary to further expand the Company’s service offerings and accelerate its geographic and market growth plans. In addition, the combination will provide growth opportunities for Wenck’s employees and more comprehensive capabilities to serve clients.
Wenck engaged Chartwell as its exclusive financial advisor to lead and execute a complex transaction involving the sale of a 100% ESOP-owned company. With Chartwell’s in-depth expertise in ESOPs and M&A transactions, Chartwell provided objective counsel and facilitated negotiations on behalf of the Company to ensure a successful outcome.
“Since 1999, Chartwell has assisted Wenck through multiple stages of growth related to employee ownership. Having valued Chartwell’s partnership for so many years, it seemed natural to turn to them to lead us through this transaction. Having Chartwell manage the process and communication with all parties was immensely helpful to keep the management team focused on the business. Chartwell’s expertise led to a superior outcome for our ESOP participants and Wenck as a whole. Our new collaboration with Stantec presents excellent opportunities for all current and future employees, and we are extremely excited about what’s next.”
— Rod Ambrosie, CEO, Wenck Enterprises
About Wenck
Founded in 1985, Wenck provides holistic environmental, engineering, construction, and response solutions to both private and public clients throughout the U.S. and Canada. Wenck’s full spectrum services and core expertise in air, water, food, natural resources, and infrastructure has helped business and industries meet their regulatory compliance and quality of life needs while protecting the world’s most essential resources.
Wenck’s seasoned leadership team transformed the company structure to support continued geographic and market expansion while creating a supportive corporate culture. Their multi-disciplinary and united team of engineers, scientists, construction, and business professionals deliver technical expertise and transform concepts into meaningful results for their clients.
About Stantec
Stantec provides professional infrastructure and facilities consulting services for public and private sector clients in Canada, the United States, and internationally. The company offers consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management and planning, and project economics. Stantec serves the urban regeneration, infrastructure, education, energy, industrial, building, tourism and leisure, and waste and water sectors, as well as office and commercial, residential, and retail and town centers. Founded in 1954, Stantec is a publicly traded company on the TSX and NYSE and is headquartered in Edmonton, Canada.
Chartwell Contact
For additional information on this transaction, please contact Wil Becker. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce the sale of Exactec, Inc. to Presence From Innovation (PFI), a portfolio company of Capital For Business (CFB). The combination of these two entities presents an excellent opportunity for PFI to further penetrate the competitive point-of-purchase retail display market, especially within the high-end display sector for national retail accounts. Chartwell served as the exclusive financial advisor to Exactec (the “Company”), providing comprehensive, unbiased counsel to its sole shareholder, Ken Carney.
PFI is a manufacturer and distributor of retail store displays and fixtures, providing custom injection-molded single-serve coolers, specialized retail racks, and other fixtures made of plastic, wood, metal, and wire designed to drive consumer brand preference and purchasing decisions. PFI boasts a highly tenured base of clients ranging from Fortune 50 B2C companies to small independent retailers and craft consumer brands. PFI is located in St. Louis, Missouri and was founded in 1956.
Also headquartered in St. Louis, CFB is a middle-market industrial growth investment firm committed to providing capital to manufacturing and value-added industrial services companies. CFB takes a collaborative approach with investments by partnering with strong management teams to provide the resources and board-level guidance necessary to succeed.
PFI’s ambition lies in horizontal expansion via new customer acquisition and product portfolio expansion and quickly saw value in a combination with Exactec early in the sale process. Exactec’s high-end product and quality capabilities will provide PFI with access into new corners of the point-of-purchase retail display market. Additionally, the tenured blue-chip customer relationships that Exactec has cultivated will allow PFI to cross-sell into numerous national retail client accounts from day one. These advantages, in addition to significant operational synergies, will set the foundation for a bright future for both companies.
“This is an excellent outcome for all parties involved and Chartwell was instrumental in achieving this. Chartwell took the lead in each step of the sale process with detailed analysis and thoughtful guidance at all times. I feel very fortunate to have chosen Chartwell to lead me through this extremely important process for my business and my family and I am extremely confident this combination with PFI will result in expanded opportunities for both companies.”
— Ken Carney, President & Owner, Exactec
About Exactec
Headquartered in Chaska, Minnesota, Exactec is a leading provider of custom designed, high quality point-of-purchase displays and fixtures for retailers, consumer packaged goods manufacturers, and third-party point-of-purchase display firms. The Company provides clients with a one-stop-shop experience through a unique suite of capabilities ranging from initial CAD drawings to comprehensive manufacturing and the nationwide distribution of finished goods.
“We were honored to work with Ken and his team in the sale of Exactec. Their position in the marketplace, strong leadership team, and customer-centric culture created a compelling story for potential buyers. We were happy to find the right fit with PFI in terms of culture and transaction structure and are delighted to have achieved a great outcome for Ken and the management team.”
— Wil Becker, Managing Director, Chartwell
Chartwell Contact
For additional information on this transaction, please contact Wil Becker. For more information about our corporate finance capabilities, connect with Greg Fresh.
Chartwell is pleased to announce a majority sale of Superior Pump to Pedrollo Group S.p.A. The combination of these two entities presents an excellent opportunity for Pedrollo to penetrate the highly desirable North American water pump market with its newly-owned, well-established platform in Superior Pump. Chartwell served as the exclusive financial advisor to the Michel family and Superior Pump, providing comprehensive, unbiased counsel to the shareholders on the transaction.
Pedrollo is a family-owned, Italian-based pump manufacturer serving industrial and consumer markets in more than 160 countries worldwide. The Pedrollo multi-generational family business has prioritized the creation of sustainable water, energy, and technology solutions for its customers. In recent years, Pedrollo has been particularly acquisitive, with the prioritization of capturing both revenue and operational based synergies from numerous value-add acquisition targets. This transaction is their first acquisition in North America.
Superior Pump is a producer and distributor of premium pumps designed for commercial and residential use. This multi-generational family business leverages strong and long-tenured manufacturing capabilities to deliver top-tier products for its wide array of North American-based customers. Management consistently maximizes its efforts to prioritize strategic resource allocation on new and existing customers, business development, and new product development. Coming from its long-standing history of family and entrepreneurial values, Superior Pump shares a similar vision and culture with its Italian-based counterpart, making it an optimal acquisition target for Pedrollo.
Pedrollo’s strategic ambition is to capture market share in North America and it sought out partnership with Superior Pump. Throughout an extensive search process, Pedrollo was intrigued by Superior Pump’s strong geographic footprint and excellent supplier relations. Through ensuing conversations with Superior Pump, it was clear that there are many complementary business aspects between these two companies.
Initial negotiations between the two entities began when Pedrollo approached the Michel family on an unsolicited basis to make a minority equity investment in Superior Pump. Through creative, solutions-based restructuring, Chartwell was able to negotiate with Pedrollo to progress from a minority to a majority equity purchase; allowing Charlie Michel (who will remain president of Superior Pump) to retain a minority equity interest. The negotiation and diligence processes were challenging on many fronts, including tariff expense and credits, working capital build-ups and draw-downs, and COVID-19 related anomalies. Pedrollo expects immediate synergies to be recognized in numerous business areas, including collaboration of design know-how, seamless integration of customer networks, and a more comprehensive product portfolio. The combined entity will now have an unparalleled reach into markets across the globe as it aims to leverage its robust manufacturing capabilities and distribution network. Pedrollo’s belief in Superior Pump is evidenced by the dedicated long-term capital commitment and is convinced it has found the right partner in Superior Pump.
“The Michel family is extremely pleased with this partnership as it positions Superior Pump for significant growth and expansion into new markets, fully backed by the support of Pedrollo. We highly value the strategic and tactical M&A advice that Chartwell provided in this transaction process. Chartwell carefully listened to our family objectives which were successfully structured and negotiated in our transaction with the Pedrollo family.”
— Charles (Chip) Michel Jr., Founder & Majority Owner, Superior Pump
“This is a significant milestone for Superior Pump as we aim to combine our world-class pumps with a supreme partner like Pedrollo. We are delighted to be a part of Pedrollo’s strategic expansion plan in North America and look forward to spearheading these strategic efforts. The Pedrollo platform presents excellent synergies and cross-selling opportunities for both companies. Chartwell provided invaluable advice and insights throughout the M&A process, navigating through a number of complex financial issues while also successfully coordinating and providing due diligence requirements and reports during these unprecedented times.”
— Charles (Charlie) Michel III, President, Superior Pump
About Superior Pump
Headquartered in Minneapolis, Minnesota, Superior Pump is a leading designer, manufacturer, and provider of high-quality water pumps sold to an extensive customer base including specialty retailers, wholesalers, distributors, and direct to consumer online. Consisting mainly of pumps, the Company’s wide product portfolio is tailored to incorporate numerous applications, spanning utility, sump, sewage, lawn and irrigation, pools, and more. Since 1932, the Michel family has established an extensive track record and unparalleled reputation in the plumbing industry.
“We are absolutely delighted to have the opportunity to represent the Michel family in this transformational transaction. It was clear from the beginning of discussions that this transaction would be extremely beneficial for both parties. With Superior Pump’s excellent manufacturing capabilities and comprehensive product portfolio, we knew this was the right opportunity for Superior and Pedrollo to maximize their operations into new international markets. Superior Pump’s North American sales and marketing capabilities will provide Pedrollo many strategic benefits in the years to come. We would like to also thank all of the transaction professionals, both on the Michel and Pedrollo side, for their professionalism, creativity, and responsiveness during these unprecedented times.”
— Greg Fresh, Managing Director, Chartwell
Chartwell Contact
For additional information on this transaction or to learn more about Chartwell’s corporate finance capabilities, please contact Greg Fresh.
